There was a First Republic bank here in CA. The FDIC sold it to JPMorgan last year. Now it’s Republic First. Maybe the FDIC doesn’t like the the Republic. Or the First.
We really liked First Republic up to a couple decades ago. We were earning up to 9 percent on CDs there, better than other banks in the SF Bay Area. Such a difference from the less than 1 percent a decade ago, before the bounce upwards in interest rates lately. JPMorgan is gobbling up a lot of banks.
They killed the First Republic in Dallas in the late 1980s. You may be on to something.